How Utilities Can Retain Top Talent
Utility companies in every sector are facing the challenge of how to recruit and retain top talent. Both are important, but employee retention might be the most important simply because this can help stem the knowledge drain, an element especially critical in the world of emergency preparedness where people gain valuable on the job experience during infrequent but severe situations.
How to Retain Top Talent
According to the Dept. of Labor, up to 50% of utility workers will retire in the next 5-10 years. The mass exodus of the Baby Boomer generation means there will be a utility workforce shortage, period. That said, the biggest challenge might not be replacing the workers per-se, but replacing the knowledge.
While there is nothing utilities can do about the greying of their workforce, they can plug the gap by improving recruitment practices, and then offering a work environment that makes people want to stick around for the long haul.
According to this article from ELP, there are a few best practices that can help utilities retain top talent:
- Build an environment that encourages and fosters the use of cutting-edge technology, especially technology like drones, wearables, and smart grid development, because this is what younger people expect, and offering the opportunity to work on such things can create something akin to an entrepreneurial spirit within the company.
- Encourage a culture that values work performed, not time spent on the job, by offering things like flexible work schedules and telecommuting opportunities.
- Focus on training and professional development, because for many people, myself included, once the learning stops, the interest wanes.
The bottom line is that utilities are in the midst of a mass exodus of employees to retirement, but this does not mean we are all doomed. Younger employees will need to be brought in to replace retirees, and once they are in the door, it is critical to develop policies and perks designed to retain top talent.
